Talkspace, Inc. has recently released its 10-Q report, providing a detailed insight into its financial condition and operational performance. The company operates as a virtual behavioral healthcare company, connecting patients with licensed mental health providers in the United States. It offers psychotherapy and psychiatry services for various mental health conditions through an online platform for one-on-one therapy delivered via messaging, audio, and video channels. Talkspace serves health insurance plans, employee assistance programs, direct-to-enterprise customers, and individual subscribers.
In the 10-Q report, Talkspace reported that for the three and six months ended June 30, 2025, its clinicians completed approximately 385,100 and 735,100 sessions, respectively, related to members covered under its Payor customers, compared to 298,600 and 582,800 completed sessions, respectively, for the same periods in 2024. As of June 30, 2025, the company had approximately 6,650 Consumer active members, down from 10,700 Consumer active members as of June 30, 2024.
The report also discussed the impact of the One Big Beautiful Bill Act (“OBBBA”) signed into law on July 4, 2025, which includes changes to U.S. federal tax law. Talkspace is currently assessing the legislation and its effect on its consolidated financial statements.
Key Business Metrics for the six months ended June 30, 2025, revealed that the company had 31 health plan customers, 165 enterprise customers, and approximately 6.6 Consumer active members at the end of the period. Additionally, unique Payor active members during the period were reported at 111.2 thousand.
In terms of financial performance, the report showed that revenue for the three months ended June 30, 2025, increased by 17.9% to $54.3 million from $46.1 million for the same period in 2024. This increase was primarily driven by a 35.3% rise in Payor revenue, partially offset by a 32.1% decline in Consumer revenue. For the six months ended June 30, 2025, revenue increased by 16.4% to $106.5 million from $91.5 million for the same period in 2024, mainly due to a 34.0% increase in Payor revenue, offset by a 32.0% decline in Consumer revenue.
The report also detailed the company's costs and operating expenses, including cost of revenue, research and development expenses, clinical operations expenses, sales and marketing expenses, general and administrative expenses, depreciation and amortization, as well as financial income and net loss figures for the respective periods.
The market has reacted to these announcements by moving the company's shares 1.22% to a price of $2.50. For the full picture, make sure to review Talkspace's 10-Q report.
